Global economy + India | The Guardianhttps://www.theguardian.com/business/global-economy+world/india
Indexen-gbGuardian News and Media Limited or its affiliated companies. All rights reserved. 2016Fri, 09 Dec 2016 13:46:32 GMT2016-12-09T13:46:32Zen-gbGuardian News and Media Limited or its affiliated companies. All rights reserved. 2016The Guardianhttps://assets.guim.co.uk/images/guardian-logo-rss.c45beb1bafa34b347ac333af2e6fe23f.pnghttps://www.theguardian.com
India warns UK immigration policy could wreck trade dealhttps://www.theguardian.com/politics/2016/nov/06/india-warns-uk-immigration-policy-wreck-post-brexit-trade-deal
Minister deals blow to PM’s hopes of post-Brexit talks on eve of visit<p>Theresa May’s hopes of a post-Brexit trade deal with India suffered a hammer blow from Delhi as the prime minister prepared to make her first official visit to the country.</p><p>A spokesman for India’s minister of external affairs suggested that a policy brought in by May as home secretary restricting the right of Indian students to stay in the UK after graduation could prove to be a block on any progress.</p> <a href="https://www.theguardian.com/politics/2016/nov/06/india-warns-uk-immigration-policy-wreck-post-brexit-trade-deal">Continue reading...</a>EU referendum and BrexitIndiaWorld newsUK newsEuropean UnionForeign policyPoliticsGlobal economyEconomicsBusinessSun, 06 Nov 2016 00:05:01 GMThttp://www.theguardian.com/politics/2016/nov/06/india-warns-uk-immigration-policy-wreck-post-brexit-trade-dealPhotograph: Stefan Rousseau/PAPhotograph: Stefan Rousseau/PADaniel Boffey and Vidhi Doshi in Mumbai2016-11-06T00:05:01ZAir pollution costs trillions and holds back poor countries, says World Bankhttps://www.theguardian.com/global-development/2016/sep/08/air-pollution-costs-trillions-holds-back-poor-countries-world-bank
<p>Study finds dirty air takes huge economic toll on poor countries and costs the world more than $5tn annually in lost work days and welfare costs </p><p>Air pollution costs the world trillions of dollars a year and severely <a href="https://www.theguardian.com/global-development/2016/may/12/air-pollution-health-timebomb-poses-a-major-threat-to-development-who">impedes development</a> in many countries, according to the World Bank.</p><p>In a <a href="http://documents.worldbank.org/curated/en/781521473177013155/pdf/108141-REVISED-Cost-of-PollutionWebCORRECTEDfile.pdf">major study</a> (pdf) of the economic costs of indoor and outdoor pollution, the bank found that in 2013 – the year from which the latest available estimates date – China lost nearly 10% of its GDP, India 7.69% and Sri Lanka and Cambodia roughly 8%. </p> <a href="https://www.theguardian.com/global-development/2016/sep/08/air-pollution-costs-trillions-holds-back-poor-countries-world-bank">Continue reading...</a>Global developmentPollutionEnvironmentWorld BankGlobal economyChinaSri LankaIndiaCambodiaWorld newsThu, 08 Sep 2016 12:01:05 GMThttp://www.theguardian.com/global-development/2016/sep/08/air-pollution-costs-trillions-holds-back-poor-countries-world-bankPhotograph: Kevin Frayer/Getty ImagesPhotograph: Kevin Frayer/Getty ImagesJohn Vidal2016-09-08T12:01:05ZIndia to allow 100% foreign ownership in defence and civil aviation sectorshttps://www.theguardian.com/business/2016/jun/20/india-to-allow-100-foreign-ownership-in-defence-and-civil-aviation-sectors
<p>Sweeping reforms to foreign direct investment also clears way for Apple and Ikea to open stores across country</p><p>India has announced sweeping changes to rules on foreign direct investment, opening up its defence and civil aviation sectors to complete outside ownership and clearing the way for Apple to open stores in the country.<br></p><p> The reforms announced on Monday also loosen restrictions on investments in pharmaceuticals and retail.</p> <a href="https://www.theguardian.com/business/2016/jun/20/india-to-allow-100-foreign-ownership-in-defence-and-civil-aviation-sectors">Continue reading...</a>IndiaBusinessSouth and Central AsiaWorld newsGlobal economyMon, 20 Jun 2016 11:28:33 GMThttp://www.theguardian.com/business/2016/jun/20/india-to-allow-100-foreign-ownership-in-defence-and-civil-aviation-sectorsPhotograph: Kevin Frayer/APPhotograph: Kevin Frayer/APReuters2016-06-20T11:28:33ZExpat wages up to 900% higher than for local employees, research showshttps://www.theguardian.com/global-development-professionals-network/2016/apr/20/expat-wages-900-per-cent-higher-than-local-employees-study
<p>A survey of 1,300 local and expat workers found a wage gap that ranges from 400-900% and causes significant resentment among local workers</p><p>Imagine finding out that your colleagues earn five times more than you. Not only that, but they get all sorts of benefits you’re not eligible for.</p><p>They take a month of leave; you get 12 days. Your employer pays for their accommodation, health insurance and even their children’s school fees; you don’t get any of that.</p><p> <span>Related: </span><a href="http://www.theguardian.com/global-development-professionals-network/2016/mar/29/secret-aid-worker-why-do-expats-earn-more-than-the-rest-of-us">Secret aid worker: Why do expats earn more than the rest of us?</a> </p> <a href="https://www.theguardian.com/global-development-professionals-network/2016/apr/20/expat-wages-900-per-cent-higher-than-local-employees-study">Continue reading...</a>Global development professionals networkInequality and developmentWork & careersMoneyWorld newsOECDIndiaChinaMalawiGlobal economySouth and Central AsiaEconomicsBusinessWed, 20 Apr 2016 10:05:10 GMThttp://www.theguardian.com/global-development-professionals-network/2016/apr/20/expat-wages-900-per-cent-higher-than-local-employees-studyPhotograph: Pius Utomi Ekpei/AFP/Getty ImagesPhotograph: Pius Utomi Ekpei/AFP/Getty ImagesStuart C Carr and Ishbel McWha-Hermann2016-04-20T10:05:10ZThe Guardian view on the steel crisis: Port Talbot matters more than China | Editorialhttps://www.theguardian.com/commentisfree/2016/apr/01/the-guardian-view-on-the-steel-crisis-port-talbot-matters-more-than-china
<p>Sajid Javid finally made it to south Wales and said some important things, but government strategy has been badly exposed by the public reaction to the Tata sell-off</p><p>Sajid Javid said some important things on Friday when he finally made it to Port Talbot almost three days after Tata Steel decided to pull out of its UK steel operations. <a href="http://www.theguardian.com/business/live/2016/apr/01/tata-steel-crisis-uk-ringleader-china-sajid-javid-port-talbot-live" title="">The business secretary said</a> the steel industry is absolutely vital to UK manufacturing. He&nbsp;said there most certainly will be interested buyers of the Tata assets. He said that he was on the steel workers’ side. And he said the UK government supported tariffs against dumping. Warm words were needed and it was important Mr Javid uttered some.</p><p>The problem, though, is that such assurances are too little, too late and too flimsy. If the business secretary was as serious as he now claims about finding long-term solutions for the UK steel industry he would have been proving it by trying to find them months ago, when the crisis that made landfall this week was still a gathering storm on the financial oceans, rather than now, when the damage is already being done. The fear, underpinned by <a href="http://www.theguardian.com/commentisfree/2016/mar/31/nationalisation-state-save-steel-port-talbot-tata-industrial-policy" title="">Mr Javid’s disturbing infatuation</a> with the libertarian individualist ideas of the American writer Ayn Rand and by&nbsp;his low-profile laissez-faire approach to the steel crisis generally – surely he must have known the Tata situation before he set off to Australia – is that what he brought to Port Talbot were crocodile tears.</p> <a href="https://www.theguardian.com/commentisfree/2016/apr/01/the-guardian-view-on-the-steel-crisis-port-talbot-matters-more-than-china">Continue reading...</a>Steel industrySajid JavidBusinessPoliticsChinaAsia PacificWorld newsGlobal economyEconomicsTataIndiaCorusCommoditiesConservativesGeorge OsborneHinkley Point CUK newsFri, 01 Apr 2016 18:01:35 GMThttp://www.theguardian.com/commentisfree/2016/apr/01/the-guardian-view-on-the-steel-crisis-port-talbot-matters-more-than-chinaPhotograph: WPA Pool/Getty ImagesPhotograph: WPA Pool/Getty ImagesEditorial2016-04-01T18:01:35ZHas the Brics bubble burst?https://www.theguardian.com/business/2016/mar/27/brics-bubble-burst-brazil-russia-india-china-south-africa
<p>Brazil, Russia, India, China and South Africa seem to be failing to justify predictions of 21st century domination</p><p>The political crisis in Brazil over economic mismanagement and high-level corruption, likely to come to a head next week, has reinforced the fashionable view, popular among western governments and businesses, that the Brics bubble has burst. </p><p>Members of the exclusive Brics club of leading developing countries – Brazil, Russia, India, China and South Africa – are failing to justify predictions that, separately and together, they will dominate the 21st century world, or so the argument goes. </p> <a href="https://www.theguardian.com/business/2016/mar/27/brics-bubble-burst-brazil-russia-india-china-south-africa">Continue reading...</a>BricsBrazilRussiaChinaIndiaSouth AfricaGlobal economyAfricaAmericasAsia PacificBusinessEconomicsEuropeSouth and Central AsiaWorld newsSun, 27 Mar 2016 12:14:55 GMThttp://www.theguardian.com/business/2016/mar/27/brics-bubble-burst-brazil-russia-india-china-south-africaPhotograph: NurPhoto/REX/ShutterstockPhotograph: NurPhoto/REX/ShutterstockSimon Tisdall2016-03-27T12:14:55ZIndia budget targets farmers and promises infrastructure upgradeshttps://www.theguardian.com/world/2016/feb/29/india-budget-targets-farmers-and-promises-infrastructure-upgrades
<p>Finance minister Arun Jaitley increased spending on infrastructure by 22%</p><p>India unveiled a fire-fighting budget on Monday that seeks to win back support among rural voters for prime minister Narendra Modi’s government and sustain growth against a grim global backdrop - all without borrowing more.<br tabindex="-1"></p><p> Finance minister Arun Jaitley’s third budget marked a strategic shift by addressing rural distress in a country of 1.3 billion, where two-fifths of families rely on farming and are reeling from two years of drought.</p> <a href="https://www.theguardian.com/world/2016/feb/29/india-budget-targets-farmers-and-promises-infrastructure-upgrades">Continue reading...</a>IndiaSouth and Central AsiaWorld newsGlobal economyBusinessMon, 29 Feb 2016 12:05:37 GMThttp://www.theguardian.com/world/2016/feb/29/india-budget-targets-farmers-and-promises-infrastructure-upgradesPhotograph: Bloomberg/Bloomberg via Getty ImagesPhotograph: Bloomberg/Bloomberg via Getty ImagesReuters2016-02-29T12:05:37ZThe Guardian view on Mr Modi’s UK visit: over the top | Editorialhttps://www.theguardian.com/commentisfree/2015/nov/13/the-guardian-view-on-mr-modis-uk-visit-over-the-top
Narendra Modi and David Cameron are playing politics in a globalised world<br /><p>Long ago there were two countries whose destinies were intertwined by history. Britain’s rule helped make India into a modern nation. India’s wealth and military manpower sustained Britain as a superpower. Admiration and rationality, as well as condescension and racism, characterised a complex relationship which seemed so intimate that many expected it to continue in&nbsp;some form after the sun set on empire.</p><p>But those two countries no longer exist. The still mighty Britain that emerged from the war against Germany and Japan has become the modest and puzzled United Kingdom of today, while in India the valuable, if very different, legacies of Gandhi and Nehru have lost potency as political change has brought to the fore men and ideas marginal in 1947, when independence was achieved. Given this alteration in circumstances, it is odd that <a href="http://www.theguardian.com/world/2015/nov/12/narendra-modis-visit-to-britain-shows-where-his-priorities-lie" title="">so much hyperbole</a>, on both sides, should accompany the Indian prime minister’s visit to London.</p> <a href="https://www.theguardian.com/commentisfree/2015/nov/13/the-guardian-view-on-mr-modis-uk-visit-over-the-top">Continue reading...</a>Narendra ModiIndiaDavid CameronPoliticsWorld newsConservativesGlobal economyEconomicsBusinessEconomic policySouth and Central AsiaFri, 13 Nov 2015 19:32:27 GMThttp://www.theguardian.com/commentisfree/2015/nov/13/the-guardian-view-on-mr-modis-uk-visit-over-the-topPhotograph: Justin Tallis/AFP/Getty ImagesPhotograph: Justin Tallis/AFP/Getty ImagesEditorial2015-11-13T19:32:27ZPerhaps India, rather than China, should be the target of Britain’s charm offensivehttps://www.theguardian.com/commentisfree/2015/oct/24/india-rather-than-china-target-of-britains-charm-offensive
In many ways, India seems the UK’s most natural trading partner in the east – but for now, the brute truth is that China has piles of cash looking for a return abroad, and India doesn’t<p>According to Steve Hilton, former chief strategist to David Cameron, Britain is humiliating itself <a href="http://www.theguardian.com/world/2015/oct/21/britain-sucking-up-china-national-humiliation-former-adviser-steve-hilton" title="">unnecessarily by “sucking up” to China</a> when instead it could be “rolling out the red carpet” for India. “We should prioritise our relationship with India because that’s where the opportunity is,” he said this week on BBC Newsnight, striking a resonant chord with the many British citizens, of Indian origin and otherwise, who see India as the more natural and sympathetic ally. Parliamentary democracy, a free media, the English language, tea with milk: however ruthless and greedy British imperialism may have been, its 250-year history in India left that country with several of the imperfect institutions, beliefs and habits that Britain finds familiar and admirable.</p><p> <span>Related: </span><a href="http://www.theguardian.com/world/gallery/2015/oct/20/xi-jinping-london-in-pictures">Xi Jinping in London – in pictures</a> </p><p> <span>Related: </span><a href="http://www.theguardian.com/us-news/2015/sep/28/crowd-chants-modi-modi-as-indian-pm-winds-up-whirlwind-silicon-valley-tour">Crowd chants 'Modi, Modi' as Indian PM winds up whirlwind Silicon Valley tour</a> </p> <a href="https://www.theguardian.com/commentisfree/2015/oct/24/india-rather-than-china-target-of-britains-charm-offensive">Continue reading...</a>IndiaChinaInternational tradeSouth and Central AsiaWorld newsEconomicsGlobal economyBusinessXi JinpingAsia PacificDavid CameronPoliticsNarendra ModiSat, 24 Oct 2015 07:00:01 GMThttp://www.theguardian.com/commentisfree/2015/oct/24/india-rather-than-china-target-of-britains-charm-offensivePhotograph: Alastair Grant/APPhotograph: Alastair Grant/APIan Jack2015-10-24T07:00:01ZAsian Development Bank cuts growth forecasts for China and Indiahttps://www.theguardian.com/business/2015/sep/22/asian-development-bank-cuts-growth-forecasts-for-china-and-india
<p> The Manila-based organisation says China will only grow by 6.8% this year, down from 7.2%, blaming weaker exports and investment</p><p>The Asian Development Bank has cut its growth forecast for the region’s biggest economies, citing a softer outlook for China and India and a delayed recovery in the world’s advanced nations.</p><p>The Manila-based organisation said in a report on Tuesday that it now predicts the region’s economies will expand 5.8% this year and 6% next year, down from the 6.3% it forecast in March for both years.</p><p> <span>Related: </span><a href="http://www.theguardian.com/commentisfree/2015/sep/14/chinese-economy-western-markets-china">It’s not the Chinese economy that’s on life support | Martin Jacques</a> </p> <a href="https://www.theguardian.com/business/2015/sep/22/asian-development-bank-cuts-growth-forecasts-for-china-and-india">Continue reading...</a>Global economyChinese economyAustralian economyBusinessEconomicsIndiaStock marketsAsia PacificTue, 22 Sep 2015 02:41:32 GMThttp://www.theguardian.com/business/2015/sep/22/asian-development-bank-cuts-growth-forecasts-for-china-and-indiaPhotograph: Bloomberg/Bloomberg via Getty ImagesPhotograph: Bloomberg/Bloomberg via Getty Images2015-09-22T02:41:32ZMore millionaires in Asia-Pacific than North America, says studyhttps://www.theguardian.com/world/2015/sep/16/more-millionaires-in-asia-pacific-than-north-america-says-study
<p>Rapidly rising wealth in India, China, Indonesia and Thailand has boosted the region’s number of high net worth individuals, according to yearly report</p><p>The Asia-Pacific region has outranked North America for the number of rich people.</p><p>Growth in India, China, Indonesia and Thailand means there are more millionaires in the region than in the US and Canada, according to <a href="https://www.worldwealthreport.com/reports/population/asia_pacific">a study</a> released jointly by the consultancy firm Capgemini and RBC Wealth Management.</p><p> <span>Related: </span><a href="http://www.theguardian.com/business/2015/sep/13/china-partial-privatisations-economy-cools">China unveils plan for partial privatisations as economy cools</a> </p> <a href="https://www.theguardian.com/world/2015/sep/16/more-millionaires-in-asia-pacific-than-north-america-says-study">Continue reading...</a>Asia PacificWorld newsIndiaChinaIndonesiaThailandMoneyGlobal economyWed, 16 Sep 2015 06:26:41 GMThttp://www.theguardian.com/world/2015/sep/16/more-millionaires-in-asia-pacific-than-north-america-says-studyPhotograph: Bloomberg/Bloomberg via Getty ImagesPhotograph: Bloomberg/Bloomberg via Getty ImagesOliver Holmes in Bangkok2015-09-16T06:26:41ZGlee, relief and regret: Addis Ababa outcome receives mixed receptionhttps://www.theguardian.com/global-development/2015/jul/16/outcome-document-addis-ababa-ffd3-financing-for-development
<p>UN secretary general hails Addis Ababa development finance summit a success but failure to establish new global tax body draws criticism</p><p>World leaders at the <a href="http://www.un.org/esa/ffd/ffd3/">financing for development</a> summit in Addis Ababa have reached agreement on an economic framework to support the sustainable development agenda. </p><p>As the third and final day of negotiations in the Ethiopian capital stretched into mid-evening, countries rich and poor voted in favour of an outcome document that, nine months in the making, will shape development finance for the next 15 years. </p><p> <span>Related: </span><a href="http://www.theguardian.com/global-development/2015/jul/16/financing-for-development-summit-outcome-addis-ababa-milestone-millstone-poverty">Development finance summit: milestone or millstone for the world's poor?</a> </p><p> <span>Related: </span><a href="http://www.theguardian.com/global-development/2015/jul/16/where-are-concrete-plans-action-development-finance-deal">Where are the concrete plans for action in the development finance deal? | Alex Evans</a> </p><p> <span>Related: </span><a href="http://www.theguardian.com/global-development/2015/jul/14/financing-for-development-conference-addis-ababa-rich-countries-accused-poorer-nations-voice-tax">Rich countries accused of foiling effort to give poorer nations a voice on tax</a> </p> <a href="https://www.theguardian.com/global-development/2015/jul/16/outcome-document-addis-ababa-ffd3-financing-for-development">Continue reading...</a>The future of developmentEnvironmental sustainabilityGlobal developmentGlobal development professionals networkAidTax and spendingAfricaUnited NationsOECDSwedenIndiaEthiopiaBan Ki-moonGlobal economyWorld newsThu, 16 Jul 2015 12:25:56 GMThttp://www.theguardian.com/global-development/2015/jul/16/outcome-document-addis-ababa-ffd3-financing-for-developmentPhotograph: Tiksa Negeri/ReutersPhotograph: Tiksa Negeri/ReutersEliza Anyangwe in Addis Ababa2015-07-16T12:25:56ZNarendra Modi unveils bid to make India the 'HR capital of the world’https://www.theguardian.com/world/2015/jul/16/narendra-modi-unveils-bid-to-make-india-the-hr-capital-of-the-world
<p>Prime minister plans to provide skills training to more than 400 million people to tackle workforce shortages</p><p>India’s prime minister, Narendra Modi, launched a programme on Wednesday aimed at imparting skill training to more than 400 million Indians over the next seven years “to make India the world’s human resource capital”.<br></p><p>Indian corporations and industry have often cited unskilled manpower as a big hurdle to filling existing jobs.</p> <a href="https://www.theguardian.com/world/2015/jul/16/narendra-modi-unveils-bid-to-make-india-the-hr-capital-of-the-world">Continue reading...</a>IndiaNarendra ModiSouth and Central AsiaGlobal economyEconomicsBusinessThu, 16 Jul 2015 02:06:57 GMThttp://www.theguardian.com/world/2015/jul/16/narendra-modi-unveils-bid-to-make-india-the-hr-capital-of-the-worldPhotograph: Prakash Singh/AFP/Getty ImagesPhotograph: Prakash Singh/AFP/Getty ImagesAgence France-Presse2015-07-16T02:06:57ZWorld Bank slashes growth forecast for emerging economieshttps://www.theguardian.com/business/2015/jun/10/world-bank-growth-forecast-emerging-economies
<p>Lower oil prices and looming US interest rate rise lead to downgrades for countries including Nigeria, Angola and Brazil, while India bucks trend</p><p>The <a href="http://www.worldbank.org/">World Bank</a> has cut its forecasts for growth across emerging economies this year, warning that they face a double whammy from rising US interest rates and lower commodity prices. “Developing countries were an engine of global growth following the financial crisis, but now they face a more difficult economic environment,” said the bank’s president, Jim Yong Kim, as the anti-poverty body published its twice-yearly Global Economic Prospects document.</p><p>Growth in emerging economies is expected to be 4.4% in 2015, down from the 4.8% the World Bank was expecting in December.</p> <a href="https://www.theguardian.com/business/2015/jun/10/world-bank-growth-forecast-emerging-economies">Continue reading...</a>World BankBusinessEconomicsGlobal economyWorld newsEmerging marketsIndiaChinaNigeriaAngolaBrazilAfricaAmericasAsia PacificSouth and Central AsiaCommoditiesUK newsGlobal developmentWed, 10 Jun 2015 20:00:02 GMThttp://www.theguardian.com/business/2015/jun/10/world-bank-growth-forecast-emerging-economiesPhotograph: Viviane Moos/CorbisPhotograph: Viviane Moos/CorbisHeather Stewart2015-06-10T20:00:02ZWhy the Mundra power plant has given Tata a mega headachehttps://www.theguardian.com/global-development/2015/apr/16/why-the-mundra-power-plant-has-given-tata-a-mega-headache
<p>The birth pains of ‘ultra mega power projects’ in India have pitched a conglomerate against a small fishing community – and put the World Bank on the defensive</p><p><br>Tata Mundra was supposed to herald a new era of cheap energy for India. Instead, to date, it has served as an example of the tension between development and traditional ways of life.</p><p>The first of 16 “ultra mega power projects” (UMPP) planned by the Indian government, Mundra – an enormous 4,150MW coal-fired power station named after the coastal area that is its planned site – would use modern technology to provide affordable electricity to five Indian states.</p> <a href="https://www.theguardian.com/global-development/2015/apr/16/why-the-mundra-power-plant-has-given-tata-a-mega-headache">Continue reading...</a>Global developmentTataWorld BankGlobal economyWorld newsIndiaFossil fuelsEnergyEnvironmentSouth and Central AsiaCoalBusinessEconomicsThu, 16 Apr 2015 04:01:07 GMThttp://www.theguardian.com/global-development/2015/apr/16/why-the-mundra-power-plant-has-given-tata-a-mega-headachePhotograph: TataLocals say the Tata Mundra plant’s waste outlet expels a plume of hot water, destroying mangroves that are a nursery for fish and a natural barrier against cyclones.Photograph: TataLocals say the Tata Mundra plant’s waste outlet expels a plume of hot water, destroying mangroves that are a nursery for fish and a natural barrier against cyclones.David Pegg2015-04-16T04:01:07ZIndia commits to inflation targetinghttps://www.theguardian.com/world/2015/mar/02/india-commits-to-inflation-targeting
<p>Central bank and inflation ministry agree historic move to rein in volatile price rises by setting consumer inflation targets</p><p>India’s government and central bank have agreed to commit to inflation targeting, in the biggest change to monetary policy since the economy was opened up more than two decades ago, making a priority of subduing volatile prices. <br></p><p>In a document dated 20 February but published on the finance ministry website on Monday, the bank and government set a consumer inflation target of 4%, with a band of plus or minus 2 percentage points, for the financial year ending in March 2017. </p> <a href="https://www.theguardian.com/world/2015/mar/02/india-commits-to-inflation-targeting">Continue reading...</a>IndiaBusinessGlobal economyWorld newsEconomicsMon, 02 Mar 2015 11:13:01 GMThttp://www.theguardian.com/world/2015/mar/02/india-commits-to-inflation-targetingPhotograph: Divyakant Solanki/EPAPhotograph: Divyakant Solanki/EPAReuters in Mumbai2015-03-02T11:13:01ZIndia plans £88bn railways revamphttps://www.theguardian.com/world/2015/feb/26/india-88bn-investment-railways
<p>Government to build more lines, increase speed of journeys, introduce wireless networks in stations and train surly frontline staff in ‘soft skills’</p><p>India has said it will spend £88bn to modernise its crumbling railways, pledging to restore the “backbone” of the country to its former glory – and introduce yoga lessons for stressed-out staff.<br></p><p>The railways minister, Suresh Prabhu, said the network was crucial to India’s economic development as he signalled investment totalling more than 8.5tn rupees over the next five years.</p> <a href="https://www.theguardian.com/world/2015/feb/26/india-88bn-investment-railways">Continue reading...</a>IndiaRail transportWorld newsNarendra ModiGlobal economyBusinessThu, 26 Feb 2015 12:24:30 GMThttp://www.theguardian.com/world/2015/feb/26/india-88bn-investment-railwaysPhotograph: Rajat Gupta/EPAPhotograph: Rajat Gupta/EPAAgence France-Presse in Delhi2015-02-26T12:24:30ZIndia attempts to remove roadblocks to economic growth with national taxhttps://www.theguardian.com/world/2015/jan/31/india-economic-growth-new-national-tax
Attempts by finance minister to clear a complex system of inter-state levies should make doing business in India faster<p>On a recent foggy winter morning, the line of trucks stretched for kilometres at <a href="http://en.wikipedia.org/wiki/Khanauri" title="">Khanauri</a>, a northern Indian state border checkpoint. The drivers had been travelling for days carrying factory goods. But the arduous journey on bumpy, crowded Indian roads is not their biggest problem, they say. It is long waits and laborious paperwork at regulatory checkpoints such as this – where more than 1,500 trucks stop for hours every day – that add significantly to the cost of doing business in India.</p><p>“The factory managers keep calling us anxiously with the same questions: “Where have you reached, where are you stuck?” said Dinesh Kumar, 35, a truck driver carrying yarn from the western state of Gujarat to a blanket-making factory in Punjab.</p> <a href="https://www.theguardian.com/world/2015/jan/31/india-economic-growth-new-national-tax">Continue reading...</a>IndiaRoad transportWorld newsTrade and developmentGlobal economySat, 31 Jan 2015 10:00:06 GMThttp://www.theguardian.com/world/2015/jan/31/india-economic-growth-new-national-taxPhotograph: Narinder Nanu/GettyIndian truck drivers wait to pass through the India-Pakistan border in Wagah. Photograph: Narinder Nanu/GettyPhotograph: Narinder Nanu/GettyIndian truck drivers wait to pass through the India-Pakistan border in Wagah. Photograph: Narinder Nanu/GettyRama Lakshmi for the Washington Post2015-01-31T10:00:06ZRed tape and skills gap threaten hope of record growth for Indiahttps://www.theguardian.com/business/2015/jan/25/india-economic-growth-modi-rajan-imf
With its growing, working, consuming population, India could overtake China as the world’s fastest-expanding economy, but only with much reform and rapid industrialisation<p>This weekend, with President Barack Obama making his second visit to the Indian capital, many international eyes are on the Indian economy which, after having flagged for several years, is showing significant signs of renewed vitality.</p><p>A decade ago, India was frequently bracketed with China as one of the Bric economies – rising global powers whose young population and sheer size gave them huge potential. But while China has romped ahead, growing at double-digit rates, India, the world’s largest democracy, has sometimes struggled to live up to those hopes.</p> <a href="https://www.theguardian.com/business/2015/jan/25/india-economic-growth-modi-rajan-imf">Continue reading...</a>EconomicsIndiaEconomic policyEconomic recoveryNarendra ModiGlobal economyBusinessSun, 25 Jan 2015 00:05:22 GMThttp://www.theguardian.com/business/2015/jan/25/india-economic-growth-modi-rajan-imfPhotograph: /Sujanya Das/Barcroft IndiaA jute factory in India. The country's population is large and still growing, but skills remain low. Photograph: Sujanya Das/Barcroft IndiaPhotograph: /Sujanya Das/Barcroft IndiaA jute factory in India. The country's population is large and still growing, but skills remain low. Photograph: Sujanya Das/Barcroft IndiaJason Burke2015-01-25T00:05:22ZMade in India? Why manufacturing is the best route to development | Jostein Haugehttps://www.theguardian.com/global-development/2015/jan/06/india-china-manufacturing-services-development
<p>India should follow the example of China to make its way in the world rather than rely on its service sector<br></p><p>China’s president, Xi Jinping, recently said “<a href="http://www.thehindu.com/opinion/op-ed/towards-an-asian-century-of-prosperity/article6416553.ece?homepage=true">the combination of the world’s factory and the world’s back office will produce the most competitive production base</a>”. He was referring to China and India, respectively. The world’s two most populous economies have been growing at impressive rates, but China has been climbing the ladder faster and laid a more solid foundation for future development. How? Xi’s statement inadvertently provides the answer: China has expanded its manufacturing base while India has specialised in services. But whereas the former is a necessary precondition for sustained economic growth, the latter is a less certain development path.</p><p>Since the industrial revolution, almost all countries that have managed the transition from low to high income have undergone industrialisation, diversifying and upgrading their production structure, relinquishing dependence on agriculture and natural resources. The east Asian Tigers – the most successful examples of late developers – all had targeted industrial policies.</p><p>India has a trade surplus in services that covers only one-fifth of its trade deficit in goods</p> <a href="https://www.theguardian.com/global-development/2015/jan/06/india-china-manufacturing-services-development">Continue reading...</a>Trade and developmentGlobal developmentIndiaChinaManufacturing sectorGlobal economyBusinessEconomicsAsia PacificTue, 06 Jan 2015 07:00:05 GMThttp://www.theguardian.com/global-development/2015/jan/06/india-china-manufacturing-services-developmentPhotograph: Wayne Zhang/APPhotograph: Wayne Zhang/APJostein Hauge in Delhi2015-01-06T07:00:05Z